Tata Neu Plus SBI Credit Card
The Tata Neu Plus SBI Credit Card is one of two cards made together by SBI Card and Tata Neu, with the other one being the more premium Tata Neu Infinity Credit Card. This card is a good choice for beginners who are getting their first credit card. It comes with a small joining fee of ₹499 plus GST. To make it even better, you get 499 NeuCoins as a welcome gift, which covers the fee almost completely. You can earn up to 7% NeuCoins when you shop from selected Tata Neu brands and 1% NeuCoins when you use UPI. Along with these rewards, the card also gives free airport lounge access, making it a valuable option for many users.
This card is a smart pick for people who often shop from Tata brands or use the Tata Neu app for groceries and other shopping needs. You can save a lot by earning NeuCoins on your purchases from popular Tata brands like BigBasket, Croma, Tata CliQ, Westside, Taj Hotels, and more. The yearly fee of ₹499 is easily recovered in the first year through the welcome NeuCoins and can be waived from the second year if you spend ₹1 lakh in a year. However, you can only use and earn rewards within Tata brands, so it works best for people who shop with Tata regularly.
Rewards and Benefits
Fees & Charges
What should you consider before applying for a credit card in India?
Key Considerations Before Applying for a Credit Card in India:
- Eligibility Criteria: Ensure you meet the eligibility requirements, which typically include age, income, credit score, and employment status as defined by the issuing bank or financial institution.
- Credit Score: A strong credit score can significantly improve your chances of approval and result in more favorable terms, such as lower interest rates or higher credit limits. Verify that your credit score is healthy before applying.
- Interest Rates and Fees: Compare the annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction charges associated with various cards. These costs can vary widely and impact the overall value of the card.
- Rewards and Benefits: Evaluate the rewards, cashback, discounts, or other perks offered by the card to ensure they align with your spending patterns. Some cards may provide better benefits in specific categories, such as travel, shopping, or dining.
- Credit Limit: Review the credit limit offered by the card to ensure it meets your financial needs. Avoid applying for cards with excessive limits if you are concerned about managing debt, as this can lead to higher interest charges.
- Repayment Terms: Understand the repayment structure, including the minimum payment amount, payment due dates, and any associated penalties. Being clear about these terms can help you manage payments effectively and avoid interest buildup.
- Card Type and Features: Choose a card type that matches your specific needs—whether standard, premium, or specialized cards like those offering travel rewards or dining privileges. Ensure the features of the card align with your lifestyle and spending habits.
- Bank’s Reputation: Opt for a financial institution with a proven reputation for customer service and transparency. Consider researching customer reviews and assessing their support channels to ensure reliable service.
- Hidden Charges: Be aware of any hidden fees, including annual fees, balance transfer charges, foreign transaction fees, or cash withdrawal charges. These can add up over time and affect the overall cost-effectiveness of the card.
- Credit Utilization: Maintain a balance within your credit limit to avoid high credit utilization ratios, which can negatively impact your credit score. Responsible use of credit is essential for maintaining financial health.
- Long-Term Financial Plans: Consider how the credit card fits into your overall financial strategy. Avoid accumulating unnecessary debt and choose a card that supports your long-term financial goals without adding financial strain.
How do I apply for this credit card?
You can apply for the Tata Neu Plus SBI Credit Card by calling SBI Card customer care at 1860 180 1290 or by visiting their website.
Is there a fuel surcharge waiver on this card?
Yes, you can get a 1% fuel surcharge waiver on transactions between ₹500 and ₹4,000, with a monthly cap of ₹250.
What is the forex markup fee on the card?
For international transactions, the card charges a 3.5% forex markup fee.
When do I earn the bonus points on the card?
You will earn 499 NeuCoins after paying the joining fee, which will be credited to your Tata NeuPass account.
How does the Tata Neu Plus SBI Card compare to Tata Neu Plus HDFC?
Both cards offer similar value-back benefits across Tata brands and other purchases. The main difference is the bank issuer, so your decision can depend on which bank you prefer.
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